Ira Annuity

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Hi All,
I have 220K (IRA-Rollover) Invested in an annuity. I am dissatisfied with the performance and looking to a) remove the cash and b) retain one benefit which is an annual payment for life. Being that I am 51, implementing the 72t takes me til age 56 – needing
3 1/2 more years til I’m 59 1/2. So, would I have to spread payments out over 8 1/2 years? and can the cash withdrawn be placed directly into another IRA keeping it tax sheltered? I do not want to simply close the contract as there has been basicly no interest
paid in 8 years.

2011-12-08 05:03, By: Mary, IP: []